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Fannie Mae is telling outside law firms handling defaulted loans in certain states that they must reapply with the GSE and fill out a ‘request for proposal’ if they want to continue working for the company.
June 1 -
Nearly 40 senators have now signed onto a measure urging federal regulators to modify a risk retention proposal and adopt changes that would pave the way for a broad exemption for securitized mortgages that have a low risk of default.
June 1 -
Mortgage lenders and consumer advocates, two lobbies usually busy opposing each other, have joined forces to urge regulators to ease up on proposed risk-retention requirements that they say will result in a credit crunch.
June 1 -
Fannie Mae and the Federal Housing Administration have revised a risk sharing agreement on refinancing affordable multifamily properties, allowing apartment owners to receive additional funds for renovations and upgrades that increase energy efficiency.
June 1 -
Two politically potent housing organizations have called on the Federal Housing Administration to relax its rule regarding condominiums.
June 1 -
The varieties of mortgage fraud never cease to amaze.At a session at the Texas Mortgage Bankers Association’s annual conference in Austin, attendees heard that mortgage fraud can now be combined with legal fraud.
May 31 -
The Treasury Department is getting tougher on servicers who don't comply with guidelines of the Home Affordable Modification Program and soon will release compliance grades for the 10 largest HAMP servicers.
May 31 -
The Federal Housing Finance Agency is expected to release its long-awaited proposal on changing servicing compensation by July with three main options being offered to the industry, according to servicing advisors close to the issue.
May 31 -
WASHINGTON—Federal regulators are facing a lot of pressure from Congress and industry groups to revise their risk retention proposal.
May 31 -
In the first part of May, a prominent Realtor, her son and daughter-in-law pleaded guilty to an expanding mortgage fraud that enabled them to buy expensive vacation homes at Alabamas Gulf Shores using straw borrowers to qualify for credit union loans. Lenders victimized by the scheme were First Tennessee Bank, U.S. Bank and First Choice Funding.
May 31
